Entity

NIS Group (Naftna Industrija Srbije) is Serbia's largest vertically integrated oil and gas company and one of the most significant energy companies in Southeast Europe. Headquartered in the NIS building in Novi Sad, Serbia, the company serves as the country's sole oil and gas producer and refiner. 

NIS operates under complex Russian majority ownership. As of September 2025, the ownership structure includes:

• PJSC Gazprom Neft: 44.85% stake
• Republic of Serbia: 29.87%
• JSC Intelligence: 11,30%
• Other minority shareholders: 13.98% 

Exploration and Production

NIS is Serbia's only company engaged in oil and gas exploration and production activities. The company operates primarily in the Vojvodina province in northern Serbia, where most of the country's oil and gas fields are located within the Pannonian Basin. The company has discovered over 300 reservoirs, including 80 oil and gas fields in Vojvodina and other parts of Serbia.

In 2024, NIS produced 289.5 thousand tons of oil equivalent, representing a 2% increase compared to the previous year. The company utilizes advanced drilling technologies, including slim hole technology for exploring small-diameter gas reservoirs, which provides a more cost-effective and environmentally friendly approach to extraction.

Operations and Retail Activities

NIS operates two major refineries and one gas facility as well as one retail network in Serbia:

Pančevo Oil Refinery: The flagship facility with a maximum annual design capacity of 4.8 million tons of crude oil. This refinery, which began operations in December 1968, underwent a comprehensive €547 million modernization program completed in 2012. The facility produces Euro 5-standard motor fuels, aviation fuel, diesel, liquefied petroleum gas, petrochemicals, fuel oil, bitumen, and other petroleum products.

Novi Sad Refinery: A smaller facility with an annual capacity of 2.6 million tons of crude oil.

Elemir Natural Gas Facility: Features gas processing capabilities with a design capacity of 65,000 tons of LPG and natural gasoline per year, including Europe's first HiPACT (High Pressure Acidgas Capture Technology) plant that prevents carbon dioxide emissions.

Retail network: NIS operates the largest retail network in Serbia with over 400 petrol stations across the Balkans region. The company markets its products under two brand names: NIS Petrol and the premium brand GAZPROM. Beyond Serbia, NIS has expanded its retail presence to Bosnia and Herzegovina, Bulgaria, and Romania.

Regional Expansion and Energy Trading

Beyond traditional oil and gas operations, NIS has diversified into electricity generation and trading. The company operates cogeneration facilities that produce electrical and thermal energy from gas obtained from oil and gas fields, with surplus electricity sold on the free market. NIS actively trades electricity in Serbia, Bosnia and Herzegovina, Romania, Slovenia, Hungary, and North Macedonia.